API3 Lists on South Korea's Largest Exchange Upbit, Surges Over 100% in 24 Hours

Api3DAO is a decentralized oracle network focused on transforming blockchain data delivery. On August 19, after its listing on South Korea's largest cryptocurrency exchange Upbit with KRW and USDT trading pairs, the token API3 saw a sharp price increase, climbing more than 100% within 24 hours.

API3 quickly rose from $0.84 to $1.76, representing a 109% increase. The token is currently trading around $1.69, giving the project a market capitalization near $107 million. The 24-hour trading volume exceeded $149 million, reflecting active market participation.

The Upbit listing not only boosted activity in the local market but also influenced major global exchanges. Binance experienced a notable surge in trading volume, while platforms like Bybit and OKX saw substantial short-covering. Several exchanges reported negative funding rates, signaling increased market momentum.

Api3DAO is led by two blockchain experts with extensive industry experience:

• Co-founder Heikki Vänttinen, previously founded and served as CEO of CLG Group. Since 2018, he has been deeply engaged in the blockchain space, focusing on bridging traditional APIs with Web3 technologies.

• Co-founder Burak Benligiray, a technology-oriented leader and former CTO of ChainAPI, currently drives the core technical development at Api3DAO. His work emphasizes continuous innovation and robust technical reporting.

Api3DAO announced renewed incentives for its Morpho Markets and Vault programs.

The project stands out for connecting traditional APIs directly with blockchain systems. Compared with competitor Chainlink, Api3DAO places greater emphasis on oracle management by data providers, reducing centralized intermediary layers. This approach has been gaining recognition among developers and market participants.